The Association of Nonprofit Accountants and Finance Professionals (ANAFP) is the largest professional association dedicated solely to those working in and/or interested in the field of nonprofit accounting and finance.

ANAFP works to promote, educate, and foster collaboration for those professionals and to be a resource to the general public on nonprofit accounting and finance matters.

Featured Articles

Managing Foreign Exchange Risk for Nonprofits

More and more nonprofits are operating and/or expanding internationally. Although this expansion is a welcome sign that the organization is growing and expanding services, it also creates a new set of problems -- how to mitigate foreign exchange exposure and prevent unnecessarily losses due to fluctuating foreign currency rates.

Understanding Nonprofit Financial Statements

Everyone working in nonprofit accounting and finance, including Board members, should have a strong grasp of reading and understanding nonprofit financial statements. Get a handle on how to interpret the unique way in which nonprofits present these financial reports by downloading ANAFP's guide to understanding nonprofit financial statements.

Fund Accounting: What Is It?

The concept of fund accounting is one of the main differences between for-profit and nonprofit accounting. It's important for all nonprofit finance and accounting professionals to understand this key concept as they continue to advance their careers.

IRS Public Support Test

Nonprofits in the United States who function as public charities must pass the IRS public support test in order to remain classified as a public charity. Failing the test will have serious consequences as it will cause the public charity to be reclassified as a public foundation. Learn how to calculate your nonprofit's public support in order to properly file your annual tax return.

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Overspending a Grant Budget

Overspending a grant budget may have significant financial implications for a nonprofit. Careful consideration needs to be made each time a nonprofit enters into a grant. Learn more about the various scenarios in which a nonprofit may be unable to use grant funds on costs that the organization thought were acceptable and what the organization should do.
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32 Financial Ratios for Nonprofits

Financial ratios help nonprofits measure the financial health of the organization. A nonprofit that tracks important financial ratios are not only in a better position to evaluate an organization’s operations, programs, and financial stability, the results may also be used to benchmark the organization against management objectives, past performance, and similar organizations and competitors.

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How to Account for Donated Goods and Services

Many nonprofits receive donated goods and services in lieu of cash contributions which help the nonprofit secure items and services that it may not be able to afford on its own. Learn the accounting implications that the nonprofit must consider when accepting these donated items.

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Which U.S. IRS Form Should Your Nonprofit File

There are multiple tax forms available to nonprofits. Deciding which form to file depends on the organization’s classification and whether or not the nonprofit reaches certain spending thresholds. Read more about the various forms available and learn about filing deadlines and penalties for non- and late filings.
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Must Your Nonprofit Have an Audit?

External financial audits can be expensive; however, your nonprofit may not need an audit. Find out if an audit is required for your nonprofit before you venture down this path, and learn about times when an audit is not only recommended, but required by law.

Best Practices in Grants Management

Managing a nonprofit's grants and contracts process is a multifaceted and complex task. Learn four best practices that any organization receiving grants should adhere to and the roles and responsibilities of the various staff and team members.
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IRS Public Disclosure Rules for Nonprofits

Member Content: Tax-exempt organizations in the US must comply with the IRS disclosure requirements. Learn about these requirements, how to meet them, how best to recover costs associated with meeting these rules, and which information nonprofits are not required to disclose.
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10 Simple Steps to Prepare for an Audit

Member Content: Audits can be a stressful time for any nonprofit. Finance staff should keep in mind these ten simple steps that will undoubtedly facilitate the audit process.
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How to Set-up QuickBooks Online for Nonprofits

Interested in using QuickBooks Online for your nonprofit? Download ANAPF's step-by-step guide for setting-up QuickBooks Online so it mimics a fund accounting system and produces the nonprofit financial statements you need to accurately track revenues and expenses by donors, grants, projects, and service area.
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Best Practices in Nonprofit Budgeting

Nonprofits should track revenues and expenses for multiple program service areas and product lines. Before a nonprofit begins the budgeting process, there are key concepts and terms that all members of the organization should understand.
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Public Charities versus Public Foundations

Nonprofits in the United States organized under U.S. IRS Code Section 501(c)3 may be classified as either a public charity or a private foundation. Learn the key differences between between these two entities to ensure your organization is classified correctly.
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How to Conduct a Reserve Assessment

Many nonprofit organizations have or are interested in establishing a reserve fund to sustain the long-term future of the organization and/or provide the organization a source of capital for future development. Learn the six essential steps that every nonprofit should take to determine the ideal reserve fund amount.
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Steps in Preparing for Virtual Audits

Technology is consistently changing the way business is conducted, and this even applies to how some financial audits are currently and will be conducted in years to come. Learn seven steps for making your organization more technology-driven so you'll not only be prepared for virtual audits, but you'll also improve your organization's systems and processes.
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How to Calculate Indirect Rates

Member Content: Many nonprofits develop indirect rates as a mechanism for allocating joint costs among multiple projects and donors. Learn more about what constitutes indirect costs and how to calculate indirect rates. And discover strategies on how to ensure you recover your indirect costs when faced with indirect caps on grants and contracts.
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Executive Compensation

It is the responsibility of the Board of Directors to set the compensation and benefits package of the CEO/Executive Director. What guidance does the IRS provide nonprofits when setting this compensation and benefits package? What documentation is essential to obtain and review to ensure the compensation is reasonable and not excessive?

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Late Retirement Contributions

The general rule is that retirement contributions withheld from employees' paychecks must be remitted to the employees' retirement plans within seven (7) business days from the payroll check date.

What happens if you miss the 7-day mark?

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Above-the-Line Deductions

For tax years 2020 and 2021, U.S. tax filers were allowed to take an "above-the-line" deduction for charitable contributions up to $300 (or $600 if married and filing jointly). This was in addition to the standard deduction. What about for tax year 2022?